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Bajaj Allianz Life
LongLife Goal
A Unit-linked Non-Participating Whole Life Insurance Plan
Bajaj Allianz Life
LongLife Goal
The unit linked insurance products do not offer any liquidity during the first five years of the contract. The policyholder will not be
able to withdraw the monies invested in unit linked insurance products completely or partially till the end of the fifth year.
Being prepared for long life is not only about saving. It’s also about having an ongoing income stream that sustains your life style so that
You continue to live your life.
Key Advantages
Bajaj Allianz Life LongLife Goal is a non-participating, individual, whole of life Unit-Linked, regular premium payment endowment plan.
The key advantages of Bajaj Allianz Life LongLife Goal are as follows:
Opt for Retired Life Income to meet 12 Choice of 2 plan variants#: LongLife Goal without Waiver
Retirement Goals of Premium & LongLife Goal with Waiver of Premium
th
Loyalty Additions every year from 5th
5
25th Policy Year till 25th Policy Year
Benefits payable
Maturity Benefit ` `
`
Under Bajaj Allianz Life LongLife Goal, the Maturity Benefit will be the Fund Value as on the Maturity Date, provided the Policy is in-force.
Bajaj Allianz Life
LongLife Goal
Death Benefit
If all due premiums are paid, then, in case of unfortunate death of the Life Assured during the Policy Term, the Death Benefit payable
will be higher of:
a. Sum Assured
b. Fund Value
* Total premiums paid shall be (Annualized Premium * number of years for which premiums have been paid).
All the above is paid as on date of receipt of intimation of death of the Life Assured, at the Company’s office.
Note:
• If death of the Life Assured occurs before attaining age 60 years, then, the Sum Assured shall be reduced to the extent of the
partial withdrawals (systematic or non-systematic) made during the two year period immediately preceding the death of the
Life Assured.
• If death of the Life Assured occurs on or after attaining Age 60 years, then, the Sum Assured shall be reduced to the extent of the
partial withdrawals (systematic or non-systematic) made during the two year period before attaining Age 60 and all the partial
withdrawals made after attaining Age 60 years.
• The Policy and all benefits will terminate on the date of receipt of intimation of death of the Life Assured.
• Under LongLife Goal with Waiver of Premium, if waiver of premium has already been triggered under the Policy, then, the
present value of future waiver of premium installments, discounted at 4% p.a. (from the date of death), shall be paid
You can choose for Retired Life Income, at inception or anytime during the Policy Term.
a) At any Policy Anniversary on either attaining Age 55 years or after 10th Policy Year, whichever is later
b) As percentage of your Fund Value ranging from 0 to 12% per annum, as chosen by you, payable yearly, half yearly, quarterly or
monthly.
Note:
2. The RLI percentage can be changed anytime during the Policy Term, even after start of RLI
3. The RLI will be paid over the remaining Policy Term or till You terminate the option, subject to availability of fund
4. The Fund Value after payment of instalment of RLI should not drop below 105%*Total Premiums paid till date. In case the
amount available (Fund Value less 105%*Total Premiums paid till date) for RLI is not sufficient to meet the percentage chosen
by You, an amount lower than the percentage chosen will be paid as RLI.
5. The RLI installment will be paid by redeeming Units from the funds in the same proportion as the Fund Value in each Fund
and will be redeemed at the Unit Price applicable on the date of each RLI instalment
Bajaj Allianz Life
LongLife Goal
6. Each RLI installment will be hiked-up by 0.5% over and above the percentage chosen by You. The hike-up is given as an
additional benefit to You. The hike-up is called the Return Enhancer
7. All charges including mortality charges (as applicable in the Policy) shall be deducted during the period
8. Partial withdrawals will be allowed anytime even during the RLI period
9. You will have the option to exit out of the RLI option at any time, even if it is after the start of the RLI. Once exited You can opt
for RLI option again anytime during the Policy Term
10. Also, You will have the option to withdraw the Fund Value completely as Surrender Benefit, anytime even during RLI period.
11. In case of your policy is converted to a paid-up policy, you will still be entitled for RLI benefit, subject to above terms &
conditions
Partial withdrawal
You have the option to make partial withdrawals, any time after the fifth Policy Year, subject to the following conditions:
• The Fund Value should not fall below 105% of the Annualized Premium * PPT, after a partial withdrawal.
• The minimum amount of partial withdrawal at any time is ` 5,000.
• A partial withdrawal shall not be allowed if it will result in termination of the Policy.
• In case of minor Life Assured, partial withdrawal is allowed after attaining Age 18 years.
• Under Investor Selectable Portfolio Strategy, You will have the option to choose the fund You want to do partial withdrawals from. In
the Wheel of Life Portfolio Strategy, Trigger Based Portfolio Strategy or Auto Transfer Portfolio Strategy withdrawal of units from each
fund will be done in the same proportion as the value of the Units held in that Fund as on date of withdrawal. You will not have any
choice to opt the fund from which the partial withdrawal of units is to be done
• The Company reserves the right at any time and from time to time to vary the minimum/maximum value of units to be withdrawn,
maximum number of withdrawals allowed during a Policy Year, maximum amount of total withdrawal allowed during the Policy
Term, minimum time gap to maintain between two withdrawals and/or the minimum balance of value of units to be maintained
after such partial withdrawals, by giving a written notice of three months in advance, subject to prior approval from IRDAI.
The total amount of life cover charges, i.e., mortality (life cover) charges deducted in the Policy, will be added back as Periodical
Return of Mortality Charge or PROMC, to the Fund Value at regular intervals, as mentioned below.
i. First addition will be at the end of the Policy Year in which You attain Age 60 years or end of the 15th Policy Year, whichever is later
ii. After that, at end of each subsequent 10th Policy Year
iii. The last addition will be done on the Maturity Date
PROMC is not applicable in case of a Surrendered, Discontinued or Paid-up Policy and will be payable provided all due Regular
Premiums under the Policy have been paid up to date.
Note:
1) The amount of PROMC that will be added into the Fund at each interval of PROMC will be sum total of all the mortality charges
deducted from, inception of the Policy or date of latest PROMC, whichever is later
2) Amount of mortality charge will be allocated to the Fund(s) in the same proportion of Fund Value as on the date of addition.
Bajaj Allianz Life
LongLife Goal
3) In case the premium(s) are un-paid and the Policy is revived during the Revival Period by paying all due premiums, the
PROMC due-but-not-allotted will be added to the Fund as on the date of revival.
4) PROMC will be excluding any extra mortality charge & or Goods & Service Tax/any other applicable tax levied on the mortality
charge deducted, subject to changes in tax laws.
Periodical Return of Waiver of Premium Charge (if LongLife Goal with Waiver
of Premium, is opted)
The total amount of Waiver of Premium charges deducted in the Policy, will be added back as Periodical Return of Waiver of Premium
Charge or PROWC, to the Fund Value at regular intervals as mentioned below.
I. First addition will be at the end of the Policy Year in which Your (Life Assured’s) Age is 60 years or end of the 15th Policy Year, whichever
is later
ii. After that, at end of each subsequent 10th Policy Year
The PROWC will be payable even after the WOP has been triggered in the Policy, to the extent of any unpaid PROWC. PROWC is not
applicable in case of a Surrendered, Discontinued or Paid-up Policy and will be payable provided all due Regular Premiums under the
Policy have been paid up to date.
Note:
1) The amount of PROWC that will be added into the fund at each interval of PROWC will be sum total of all the mortality charges
deducted from, inception of the Policy or date of latest PROWC, whichever is later
2) Amount of WOP charge will be allocated to the fund(s) in the same proportion of the Fund Value as on the date of addition
3) In case the premium(s) are un-paid and the Policy is revived during the revival period by paying all due premiums, the PROWC
due-but-not-allotted will be added to the fund as on the date of revival
4) PROWC will be excluding any extra mortality charge & or Goods & Service Tax/any other applicable tax levied on the mortality
charge deducted, subject to changes in tax laws
Bajaj Allianz Life
LongLife Goal
The Company shall allocate Loyalty Additions to the Fund Value as percentage of one Annualized Premium at the end of each Policy Year
commencing from the end of 5th Policy Year, provided all due Regular Premiums have been paid up to date. The Loyalty Additions
payable are as below:
Year Percentage
From the end of 5th year till end of 9th year 2% every year
th th
From the end of 10 year till end of 14 year 4% every year
th th
From the end of 15 year till end of 19 year 6% every year
th th
From the end of 20 year till end of 25 year 7% every year
Note:
1) The amount of LA added into each Fund will be in the same proportion of the value of those Funds as at the date of addition.
2) LA will not be paid for a surrendered, discontinued or Policy converted to paid-up Policy.
3) In case the premium(s) are un-paid and the Policy is revived during the revival period by paying all due premiums, the Loyalty
Additions due-but-not-allotted during the period the Policy was in Discontinuance will be added to the fund as on the date of revival.
Claw-back Additions
Non-zero positive claw back additions, if any, will be added to the Fund Value in order to meet the maximum reduction in yield criteria
[as stipulated in Sub-regulation 37 of IRDA (Linked Insurance Products) Regulations, 2013] at the end of each Policy Year starting from
the end of the fifth Policy Year.
Surrender Benefit
Sample Illustration
Meeting the need of regular income to fulfil all LifeGoals till age 99 years
Let’s take an example to explain this further -
Rahul is 35 years old and has various LifeGoals to be achieved. He has taken a Bajaj Allianz Life LongLife Goal Policy (LongLife Goal
without Waiver of Premium) to meet his LifeGoals. He is paying a premium of ` 1 lac p.a. for a payment term of 20 years with a Sum
Assured of ` 17.5 Lacs. Rahul has also opted for Retired Life Income option at 8% of fund value and has chosen for the payout to be
received annually. Let’s see the benefits available under the Policy.
Death Benefit
In case of Rahul’s unfortunate death at the age 65 years, the death benefit, are as per the table given below.
The death benefit is subject to the guaranteed benefit, which is 105% of the total premiums paid, till the date of death.
3
The above illustrations are considering investment is in the "Pure Stock Fund II and Goods & Service Tax of 18%"
The returns indicated at 4% and 8% are illustrative and not guaranteed, subject to Policy Terms & conditions and do not indicate the
upper or lower limits of returns under the Policy.
Features
ii. Accelerator Mid-Cap Fund II Risk Profile – Very High (SFIN: ULIF05206/01/10ACCMIDCA02116)
The investment objective of this fund is to achieve capital appreciation by investing in a diversified basket of mid cap stocks and
large cap stocks.
Bajaj Allianz Life
LongLife Goal
Portfolio Allocation:
Switching between funds - Only under the Investor Selectable Portfolio Strategy
• You have the flexibility to switch units between your investment funds (even during the RLI period) according to your risk
appetite and investment decisions, by giving written notice to the Company, other than in a Discontinued Life Policy
• You can make unlimited free switches during the Policy Term
• The minimum switching amount is ` 5,000 or the value of units in the fund to be switched from, whichever is lower
• The Company shall do the switch by redeeming units from the Fund to be switched from and allocating new Units in the Fund
being switched to at their respective Unit Price
• Switching between Funds is not allowed when Wheel of Life Portfolio Strategy II, Trigger Based Portfolio Strategy or Auto Transfer
Portfolio Strategy is opted for.
You may, at any Policy Anniversary, switch out from any of the four unique portfolio strategies i.e. Investor Selectable Portfolio Strategy,
Wheel of Life Portfolio Strategy II, Trigger Based Portfolio Strategy or Auto Transfer Portfolio Strategy and switch into anyone of the
following three strategies - :
Investor Selectable Portfolio Strategy
Wheel of Life Portfolio Strategy II
Auto Transfer Portfolio Strategy
• Trigger Based Portfolio Strategy can be opted for only at inception. Once You have opted out of Trigger Based Portfolio Strategy, You
cannot choose the Trigger Based Portfolio Strategy again during the Policy Term
• Switching out of portfolio strategy can be done by giving a 30 days written notice to the Company prior to the Policy Anniversary
• On switching in to the Investor Selectable Portfolio Strategy from any of the other portfolio strategy, the existing Funds and the new
premiums paid will be allocated into the Fund(s) of your choice.
• On switching in to the Wheel of Life Portfolio Strategy II or Auto Transfer Portfolio Strategy any, the existing Funds and the new
premiums paid will be allocated as per the respective portfolio strategy.
Quarterly & Monthly Premium Payment Frequency will be available under auto-debit options as approved by RBI
Miscellaneous charge, as mentioned in the Table of Charges given below, will be applicable for the option.
Bajaj Allianz Life
LongLife Goal
Top-up Premium
Top-up Premium option is not available under the Policy.
Settlement Option
• You will have the option to receive the Maturity Benefit in installments payable yearly, half yearly, quarterly or monthly, spread
over a maximum period of 5 years.
• The amount paid out to You in each installment will be the outstanding Fund Value as at that installment date divided by the
number of outstanding installments, hiked-up by 0.5%. Therefore, each installment is equal to [Fund Value / No. of Outstanding
Installment] * 1.005. The hike-up is called the Return Enhancer.
• The Policy monies will continue being invested in the same Funds as on the Maturity date
• The first instalment of the Maturity Benefit will be payable on the Maturity Date.
• Installment payment will be made by redeeming Units from the Funds at the Unit Price applicable on the installment date.
• Investment risk during the settlement period will be borne by You.
• No risk cover will be available during the period of the settlement option. The portfolio strategy as it existed in the Policy will not
operate during the settlement period.
• Only fund management charge shall be deducted during the settlement period.
• No partial withdrawals or fund switches or operation of any of the portfolio strategies are allowed during the settlement period.
• Alternatively, You will have an option to withdraw the Fund Value completely, at any time during the period of settlement option.
The Fund Value will be calculated as the total number of outstanding Units in the Policy multiplied by the Unit Price as on date of
complete withdrawal.
• In case of death, during the settlement period, the Fund Value as on the date of intimation shall be payable as lump-sum.
Tax Benefits
Premium paid, Maturity Benefit, Death Benefit, partial withdrawal, Retired Life Income and Surrender Benefit may be eligible for tax
benefits as per extant Income Tax Act, subject to the provision stated therein.
You are requested to consult your tax consultant and obtain independent tax advice for eligibility and before claiming any benefit under
the Policy.
Eligibility Table
Parameter Details
Life Assured 0 years
Minimum Entry Age Policyholder (LongLife Goal with Waiver Of Premium)
18 years
Policyholder (LongLife Goal without Waiver Of Premium)
Life Assured
65 years
Maximum Entry Age Policyholder (LongLife Goal with Waiver Of Premium)
Policyholder (LongLife Goal without Waiver Of Premium) No limit
Bajaj Allianz Life
LongLife Goal
Parameter Details
Minimum & Maximum
99 years
Age at Maturity
Policy Term 99 minus Age at Entry of Life Assured
Premium Payment Term For age at Entry 0 to 6 years 12 to 25 years
(PPT) For age at entry 7 years & above 10 to 25 years
Minimum Age at end of Life Assured Policyholder
PPT 12 years 28 years
Maximum Age at end of Life Assured Policyholder
PPT 75 years
Frequency Yearly Half -yearly Quarterly Monthly
Premium (in `) 60,000 30,000 15,000 5,000
Minimum Premium
Quarterly & Monthly premium payment frequency will be available under
auto-debit options as approved by RBI
No limit
Maximum Premium
As per maximum Sum Assured and Board Approved Underwriting Policy
Premium Payment
Yearly, Half-yearly, Quarterly and Monthly
Frequency
Age Higher of
10 times Annualized 0.5 * (70 – Age at Entry) *
Minimum & Maximum Less than 45 years
Premium Annualized Premium
Sum Assured
Greater than or 10 times Annualized 0.25 * (70 – Age at Entry)
equal to 45 years Premium * Annualized Premium
Revival
A discontinued Policy can only be revived subject to following conditions:
• The Company receives Your request for revival within two (2) years from the date of discontinuance of the Policy provided the
Policy is not terminated already.
• Such information and documentation as may be requested by the Company is submitted by You at Your own expense.
• The Policy may be revived on the original Policy terms & conditions, revised terms & conditions or disallowed revival, based on
board approved underwriting guidelines.
• On revival of the discontinued Policy,
1. The Policy will be revived restoring the risk cover, Guaranteed Benefit, PROMC, PROWC or Loyalty additions.
2. All the due but unpaid premiums will be collected without charging any interest or fee.
3. If the Policy is a discontinued Policy, the Discontinuance Value of the Policy together with the amount of discontinuance
charge (without any interest) as deducted by the Company on the date of discontinuance of the Policy, shall be restored to the
chosen fund(s) in the same proportion as it existed on the Date of Discontinuance, at their prevailing Unit Price.
4. The Premium Allocation Charge, as applicable during the discontinuance period shall be deducted from Regular Premiums
paid or from the Fund at the time of revival.
5. The Loyalty Additions, PROMC & PROWC due-but-not-allotted during the period the Policy was in Discontinuance shall be
added to the Fund Value.
Force Ma’jeure
a. The Company will value the funds on each day that the financial markets are open. However, the Company may value the funds
less frequently in extreme circumstances external to the Company, where the value of the assets is too uncertain. In such
circumstances, the Company may defer the valuation of assets for up to 30 days until the Company feels that certainty as to the
value of assets has been resumed. The deferment of the valuation of assets will be with prior approval of IRDAI.
b. The Company will make investments as per the investment mandates given above. However, the Company reserves the right to
change the exposure of the fund to money market instruments to 100% only in extreme situations external to the Company,
keeping in view market conditions, political situations, economic situations, war/ war-like situations, terror situations. The same
will be put back as per the base mandate once the situation has corrected.
c. Some examples of such circumstances mentioned above are:
o When one or more stock exchanges which provide a basis for valuation for a substantial portion of the assets of the fund are
closed otherwise than for ordinary holidays
o When, as a result of political, economic, monetary or any circumstances out of the control of the Company, the disposal of the
assets of the fund are not reasonable or would not reasonably be practicable without being detrimental to the interests of the
remaining policyholders
o During periods of extreme market volatility of markets during which surrenders and switches would, be detrimental to the
interests of the remaining Policyholders
o In the case of natural calamities, strikes, war, civil unrest, riots and bandhs
o In the event of any force majeure or disaster that affects the normal functioning of the Company
o If so directed by the IRDAI
d. You shall be notified of such a situation if it arises.
Charges Details
Where the Policy is discontinued Discontinuance/Surrender charge for the policies having
during the Policy Year Annualized Premium above ` 25000/-
1 Lower of 6% * (AP or FV) subject to maximum of ` 6,000
Discontinuance 2 Lower of 4% * (AP or FV) subject to maximum of ` 5,000
/Surrender Charge 3 Lower of 3% * (AP or FV) subject to maximum of `4,000
4 Lower of 2% * (AP or FV) subject to maximum of ` 2,000
5 & above Nil
AP – Annualized Premium & FV – Fund Value
Mortality / Waiver of Premium Charge will be deducted at each monthly anniversary by cancellation of units.
Female Life Assured will be eligible for an age-set-back of 3 years.
For sub-standard lives, extra mortality charge will be applicable which will be deducted as charges by
cancellation of units.
Sample mortality charge for LongLife Goal without Waiver of Premium variant per annum per thousand of
sum at risk for a healthy male life is shown below:
Age (yrs) 25 30 35 40 45 50 55 60
` 0.74 0.80 0.99 1.41 2.28 3.91 6.16 8.99
Sample Mortality and WOP charges for LongLife Goal with Waiver of Premium variant per annum per
Mortality /Waiver
thousand of sum at risk for a healthy male life is shown below:
of Premium
a)In a policy where Policyholder and Life assured are different:
Charge
Life Assured Age (yrs) 25 30 35 40 45 50
Mortality Charge ` 0.74 0.80 0.99 1.41 2.28 3.91
Policyholder Age (yrs) 50 55 60 65 70 75
WOP (On Death and
4.06 6.31 9.14 13.45 20.41 31.20
APTD) `
b)In a policy where Policyholder and Life assured are same:
Life Assured Age (yrs) 25 30 35 40 45 50
Mortality Charge ` 0.74 0.80 0.99 1.41 2.28 3.91
WOP (On APTD) ` 0.15
Sum at risk is equal to Maximum of [death benefit – Fund Value, zero]. Additionally if LongLife Goal
with Waiver of Premium variant is opted for, the sum at risk for WOP is the sum of all outstanding
premiums, as on date of calculation of WOP charge
Goods & Service Tax As applicable on all Charges mentioned above.
Revision of Charges
After taking due approval from the Insurance Regulatory and Development Authority, the Company reserves the right to revise the
above mentioned charges, except the premium allocation charge, WOP charge and the mortality charge which are guaranteed
throughout the Policy Term:
• Fund management charge up to a maximum of 1.35% per annum of the NAV for all the funds except Discontinued Life Policy
Fund and 0.50% p.a. for the Discontinued Life Policy Fund.
• Policy administration charge up to a maximum of ` 6000 per year.
• Miscellaneous charge up to a maximum of ` 200/- per transaction
The Company shall give an advance notice of 3 months for any change in charges. The Policyholder/Life Assured who does not
agree with the revised charges shall be allowed to surrender the Policy, at the prevailing Unit Value. Discontinuance/Surrender
Charge will be applicable if the surrender is during the Lock-in Period, otherwise, not.
Bajaj Allianz Life
LongLife Goal
Termination
All risk cover under the Policy will terminate immediately, and the Policy will terminate on payment of the last instalment.
If You have opted for the Settlement Option.
The Policy shall automatically and immediately terminate on the earlier occurrence of any of the following events:
On foreclosure of the Policy
On the date of receipt of intimation of death of the Life Assured.
On payment of Discontinuance Value or Surrender Benefit.
The Maturity Date, unless the Policyholder has opted for the Settlement Option.
The expiry of the Settlement period, if opted.
On cancellation of Policy during Free look period
Grace Period
A grace period of 30 days for yearly, half yearly & quarterly premium payment frequency and 15 days is available for monthly premium
payment frequency from the due date of Regular Premium payment, without any late fee, during which time the Policy is considered
to be in-force with the risk cover without any interruption as per the Policy terms and conditions.
Foreclosure
If the Fund Value after the completion of first three (3) Policy Years is lower than one Annualized Premium the Policy shall be
automatically foreclosed, and any Discontinuance Value / Surrender Benefit shall be available to You, as per the applicable Policy Terms
and conditions.
Suicide Exclusion
In case of death of the Life Assured, whether sane or insane, due to suicide within 12 months from the date of inception of Policy or the
date of latest revival of the Policy, the Company’s liability shall be limited to the extent of the Fund Value, as available on the date of
intimation of death. Any charges recovered subsequent to the date of death of the Life Assured shall be paid back to the Claimant along
with the death benefit.
Statutory Information
Prohibition of Rebate: Section 41 of the Insurance Act, 1938: (as amended from time to time):
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or
renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the
commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a
policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.
(2) Any person making default in complying with the provisions of this section shall be punishable with a fine which may extend up to
ten lakh rupees.”
Disclaimer
All Charges applicable shall be levied. This brochure should be read in conjunction with the Benefit Illustration, and is only a summary of
the product features. The Policy document is the conclusive evidence of contract and provides in details all the terms, conditions and
exclusions related to Bajaj Allianz Life LongLife Goal. Please ask for the same along with the quotation or seek the advice of your
insurance advisor if you require any further information or clarification.
Grievance Redressal
In case you have any query or compliant/grievance, you may contact the Grievance Officer of any nearest Customer Care Center at
Branch Office of the Company during the Company’s office hours from 9 am to 6 pm. Alternatively, you may communicate with the
Company:
By post at: Customer Care Desk,
Bajaj Allianz Life Insurance Company Ltd., Bajaj Allianz House, Airport Road, Yerawada, Pune - 411006
By Phone at: Toll Free No. 1800 209 7272 | By Fax at: 020-6602-6789 By Email: customercare@bajajallianz.co.in
In case you are not satisfied with the resolution provided to you by the above office, or have not received any response within 10
days, or you have any suggestion in respect of this Policy or on the functioning of the office, you may contact the following official for
resolution:
Grievance Redressal Officer,
Bajaj Allianz Life Insurance Company Ltd.
3rd Floor, Bajaj Finserv, Survey No: 208/1-B, Behind Weik Field IT Park, Viman Nagar, Pune – 411014
Tel. No: 1800- 233- 7272
Fax: (+91 20) 40111502. Email ID: customercare@bajajallianz.co.in
If Policyholder is not satisfied with the response or does not receive a response from the Company within fifteen (15) days, he may
approach the IRDAI Grievance Cell Centre (IGCC) on the following contact details:
By Phone: TOLL FREE NO: 155255, By Email: complaints@irda.gov.in
Bajaj Allianz Life
LongLife Goal
Grievance Redressal
By post at: Consumer Affairs Department Insurance Regulatory and Development Authority of India
Sy. No. 115/1, Financial District, Nanakramguda, Gachibowli, Hyderabad – 500 032, Telangana
By Fax at: +91- 40 – 6678 9768
The Policyholder can also register his complaint online at http://www.igms.irda.gov.in/
Ombudsman
a) In case you are not satisfied with the decision/resolution of the Company, you may approach the Insurance Ombudsman if your
grievance pertains to any of the following:
i) Delay in settlement of claim
ii) Any partial or total repudiation of claims
iii) Disputes over premium paid or payable in terms of insurance policy
iv) Misrepresentation of policy terms and conditions
v) Legal construction of insurance policies in so far as the dispute relates to claim
vi) Policy servicing related grievances against insurers and their agents and intermediaries
vii)Issuance of Life insurance policy, which is not in conformity with the proposal form submitted by the proposer
viii)Non-issuance of insurance policy after receipt of premium
Any other matter resulting from the violation of provisions of the Insurance Act, 1938 or the regulations, circulars, guidelines or
instructions issued by the IRDAI from time to time or the terms and conditions of the Policy, in so far as they relate to issues mentioned at
Sub-Section (i) to (vi) above.
Contact Details
Mail us : customercare@bajajallianz.co.in
www.bajajallianzlife.com
Chat: https://goo.gl/PdEyZu
Disclaimer
BEWARE OF SPURIOUS/ FRAUD PHONE CALLS!
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers mentioned above. This brochure should be read in conjunction with the Benefit
Illustration and Policy Exclusions. Please ask for the same along with the quotation.
The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo and Allianz SE to use its “Allianz” logo. By submitting your contact details or
responding to Bajaj Allianz Life Insurance Co. Ltd., with an SMS or Missed Call, you authorize Bajaj Allianz Life Insurance Co. Ltd. and/or its authorized Service Providers to verify the above information
and/or contact you to assist you with the purchase and/or servicing. Please check with your tax consultant for eligibility. BJAZ-O-2870/13-Feb-19